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Move Out Wizard

Modules > Property lease management > Periodic tasks > Move Out Wizard

Use this wizard to terminate a single lease when a tenant moves out.

To terminate multiple leases, use the Mass Termination page.

Example: Move Out at Mid-Period, then Reversed

A lease with the following settings is terminated at mid-month with Invoice remaining set to Yes: 

  • Align to month is No
  • Frequency is Monthly

The month in which the lease is terminated is split into two separate periods: one period is billed, the other period is yet to be billed.

You can see the details on the Billing Lines page.

If the termination for the lease is reversed, the billing lines on the Billing Lines page shows the second split period (from 11/16 to 11/30).

When you select Process, the billing lines are reconfigured to show only the full period.

Step 1: Select lease to terminate

After selecting the Lease type, you can select the lease that you want to close by Lease Number, Category Name, or Customer/Vendor account. The field that you select acts as a filter for the remaining fields that require values, so that only valid values can be selected.

For example, you want to close a revenue lease. When you select the Category name, only Lease numbers that use the selected category name are available. Similarly, only Customer/Vendor accounts that have leases with the selected category name are available.

Field Description
Lease type

Select the type of lease you want to terminate: Revenue or Expense.

Category name

Select the category for the lease. Required.

Customer/Vendor account

For a revenue lease, select the customer number. For an expense lease, select the vendor number. The label that appears is based on the lease type selected.

Lease number

Select the lease number that you want to terminate. Required.

You can select only from the leases that are for the selected lease type (revenue or expense).

Step 2: Select termination options

Select the options for terminating the lease.

Field Description
Termination date

Select the date on which the lease is terminated.

Reason code

Select the termination reason code.

Return deposit

Select whether to return the deposit to the customer.

  • Yes: Creates a deposit return transaction for returning the deposit amount to the customer. You can specify the deposit amount to return to the customer.
  • No: The deposit is not returned to the customer.
Invoice remaining

Select to prorate the final payment of the lease.

  • Yes: Creates an invoice for all unbilled and remaining amounts.
  • No: Does not create an invoice for any unbilled or remaining amounts.
Apply termination charge

Select to apply a one-time charge termination fee to the customer.

  • Yes: Applies a one-time terminate fee to the final lease payment.
  • No: No termination fee is applied to the final lease payment.
Invoice options
Available when Invoice remaining or Apply termination charge is set to Yes. The available options depend on the lease type to be terminated.
Lease type Displays the lease type selected from Step 1: Select lease to terminate .
Invoice journal name Select the invoice journal name you want to use for terminating an expense lease. The options are set up on the Property Lease Management Parameters page.
Invoice type

Displays the invoice type for the lease:   

  • For an expense lease select:  Invoice journal or Vendor invoice.
    When Vendor invoice is selected, all charges that are attached to the expense lease require an item.
  • For a revenue lease select: Free text or Sales order.
    When Sales order is selected, all charges that are attached to the revenue lease require an item.

The invoice type selected is based on the settings of the Property Lease Management Parameters page.

Posting option

Select how the journal entry for terminating the lease is processed:

  • Create: Creates the invoice only. You must manually post the invoice.
  • Post invoice automatically: Creates the invoice, and then automatically posts the invoice after you specify the invoice number.
Termination charge
Available when Apply termination charge is set to Yes.
Charge number Select the charge for terminating the lease.
Amount Specify the termination charge amount.
Termination Charge Details
Default financial dimensions

Displays the default financial dimensions for the termination charge, which can be changed as needed.

  • BusinessUnit
  • CostCenter
  • Department
  • ItemGroup
  • Project

Financial dimension is a standard Microsoft Dynamics 365 for Finance and Operations feature. For more information on using financial dimensions, see Financial Dimensions.

When the financial dimension values are empty, the financial dimensions are from the lowest level, customer/vendor, or charge.
Product

Displays the Item sales tax group to use for the termination charge.

The sales tax is a standard Microsoft Dynamics 365 for Finance and Operations features. For more information, see the Microsoft Dynamics 365 for Finance and Operations documentation.

Step 3: Return deposit

Select the options for processing deposit returns. This step appears when Return deposit is Yes.

Field Description
Lease number

Displays the number of the lease that is selected to be terminated.
Deposit

Displays the description of the deposit ID.

Journal batch number

Specify the batch number for journal entries.

Deposit amount Displays the deposit amount.
Remaining amount

Displays the amount left on the deposit, which is calculated as follows:

Remaining Amount = Original Deposit Amount – Reversed Amounts – Credit Amounts – Journal Entry Amounts.
Transaction date

Displays the date on which the deposit is to be returned. The default value is the system date, but you can change it.

Customer payment amount (Revenue lease) Specify the customer payment amount. This amount must be less than or equal to the remaining amount.
Customer payment journal name (Revenue lease) Select the customer payment journal name.
Customer payment account type (Revenue lease) Select the customer payment account type.
Customer payment account (Revenue lease) Select the customer payment account number.
Invoice journal amount (Expense lease) Specify the invoice journal amount. This amount must be less than or equal to the remaining amount.
Invoice journal name (Expense lease) Select the invoice journal name.
Invoice journal account type (Expense lease) Select the invoice journal account type.
Invoice journal account (Expense lease) Select the invoice journal account number.
General journal amount Specify the general journal amount. This amount must be less than or equal to the remaining amount.
General journal name Select the general journal name.
General journal account type Select the general journal account type.
General journal account Select the general journal account number.

Step 4: Preview

Review the settings for terminating the lease.

All values in this step are read-only. To change any of the values go back to the step where you specified the values. If you are satisfied with the values as shown in the preview, select Next.

The lease will be terminated. When a lease is terminated, the following occurs: 

Step 5: Complete

After the lease is terminated, you can select the next action you want to perform:

  • Terminate another: Restarts the wizard so you can terminate a different lease.
  • Finish: Closes the wizard.

After you finish the wizard, you can review the terminated lease on the Lease Details page. Also, for leases that use the CAM expense pools, ensure that you use the CAM Reconciliation Process to finalize the recoverable amount.